Insecure mathod of resetting the passcode for app and net banking

If you lose your Sim card which is registered with your niyox bank or your Sim got cloned by anyone. Means your whole money Gone parked in niyox bank account.

Only by sim card you can reset your password without any second level security information.
Means if you find a sim card and the same no. Is Registered with niyox bank account, whole money will be yours even if you do not know Who belongs to that account.

Please make it more secure to reset the password for App and NetBanking. It should need multiple information to reset password so only individual can reset the password.

Unless I feel so insecure to park my money in niyox bank account.

Please vote if I am correct

you can lock your atm card permanently or temporarily if you lose your sim card. Also, you can access your account using the Equitas Internet Banking if you sign up for it and move your money around in any such case.

Your account is also Insured upto INR 5lakhs if anything goes wrong.

Also if you lose your sim card, it’s quite easy to get a replacement if you have your id from your carrier.

I hope this helps.

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